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<br />200709869
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<br />Documents to the Beneficiary, or to which the Beneficiary may be otherwise entitled, may be exercised,
<br />concurrently or independently, from time to time and as often as may be deemed expedient by the
<br />Beneficiary. The Beneficiary may pursue inconsistent remedies.
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<br />The acceptance by the Beneficiary of any sum after the same is due shall not constitute a waiver
<br />of the right either to require prompt payment, when due, of all other sums hereby secured or to declare a .
<br />default as herein provided. The acceptance by the Beneficiary of any sum in an amount less than the sum
<br />then due shall be deemed an acceptance on account only and upon condition that it shall not constitute a
<br />waiver of the obligation of the Grantor to pay the entire sum then due, and failure of the Grantor to pay
<br />such entire sum then due shall be and continue to be an Event of Default notwithstanding such acceptance
<br />of such amount on account, as aforesaid. The Beneficiary or the Deed Trustee shall be, at all times
<br />thereafter and until the entire sum then due shall have been paid, and notwithstanding the acceptance by
<br />the Beneficiary thereafter of further sums on account, or otherwise, entitled to exercise all rights in this
<br />instrument conferred upon them or either of them, and the right to proceed with a sale under any notice of
<br />default, or an election to sell, or the right to exercise any other rights or remedies hereunder, shall in no
<br />way be impaired, whether any of such amounts are received prior or subsequent to such proceeding,
<br />election or exercise. Consent by the Beneticiary to any action or inaction of the Grantor which is subject
<br />to consent or approval of the Beneficiary hereunder shall not be deemed a waiver of the right to require
<br />such consent or approval to future or successive actions or inactions.
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<br />Section 4.06. Possession of Encumbered Property. Tn the event of a trustee's sale or
<br />foreclosure sale hereunder and after the time of such sale, and the Grantor occupies the portion of the
<br />Encumbered Property so sold, or any part thereof, the Grantor shall immediately become the tenant of the
<br />purchaser at such sale, which tenancy shall be a tenancy from day to day, tenninable at the will of either
<br />tenant or landlord, at a reasonable rental per day based upon the value of the portion of the Encumbered
<br />Property so occupied, such rental to be due and payable daily to the purchaser. An action of unlawful
<br />detainer shall lie if the tenant holds over after a demand in writing for possession of such Encumbered
<br />Property and premises; and this agreement and a trustee's deed shall constitute a lease and agreement
<br />under which the tenant's possession arose and continued. Nothing contained herein shall be construed to
<br />constitute the Beneficiary as a "mortgagee in possession" in the absence of its taking actual possession of
<br />the Encumbered Property pursuant to the powers granted herein.
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<br />Section 4.07. Cash Collateral. To the fullest extent allowed by applicable law, the Grantor
<br />hereby acknowledges and agrees that in the event that the Grantor commences a case under the
<br />Bankruptcy Code or is the subject of an involuntary case that results in an order for relief under the
<br />Bankruptcy Code: (a) that all of the rents, issues and profits of the Encumbered Property are, and shall for
<br />purposes be deemed to be, "proceeds, product, offspring, rents, or profits" of the Project covered by the
<br />lien of the Deed of Trust, as such quoted terms are used in Section 552(b) of the Bankruptcy Codc; (b)
<br />that in no event shall the Grantor assert, claim or contend that any portion of the rents, issues or pro tits
<br />are, or should be deemed to be, "accounts" or "accounts receivable" within the meaning of the
<br />Bankruptcy Code and/or applicable state law; (c) that the rents, issues or profits are and shall be deemed
<br />to be in any such bankruptcy proceeding "cash collateral" of the Beneficiary as that term is detined in
<br />Section 363 of the Bankruptcy Code; and (d) that the Beneficiary has valid, effective, perfected,
<br />enforceable and "choate" rights in and to the rents without any further action required on the part of the
<br />Beneficiary to enforce or perfect its rights in and to such cash collateral, including, without limitation,
<br />providing notice to the Grantor under Section 546(b) of the Bankruptcy Code.
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<br />Section 4.08. Limited Obligation of County. Notwithstanding any other provision of this
<br />Deed of Trust to the contrary, any pecuniary obligation of the County created by or arising out of this
<br />Deed of Trust shall be payable solely out of the payments received by the Partnership under the
<br />Agreement, the proceeds of the sale of the Bonds as provided in the Indenture, and out of County's
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